Mufg Securities Americas Inc. Invests $163,000 in Incyte Co. (NASDAQ:INCY)

Mufg Securities Americas Inc. acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,361 shares of the biopharmaceutical company’s stock, valued at approximately $163,000.

Several other institutional investors have also modified their holdings of the stock. Nissay Asset Management Corp Japan ADV lifted its position in shares of Incyte by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock worth $1,410,000 after buying an additional 150 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Incyte in the 4th quarter valued at $619,000. Nuveen Asset Management LLC raised its position in Incyte by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 506,723 shares of the biopharmaceutical company’s stock valued at $34,999,000 after purchasing an additional 20,855 shares during the last quarter. Lazard Asset Management LLC raised its position in Incyte by 123.8% in the 4th quarter. Lazard Asset Management LLC now owns 147,172 shares of the biopharmaceutical company’s stock valued at $10,164,000 after purchasing an additional 81,408 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Incyte by 861.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company’s stock valued at $61,587,000 after purchasing an additional 798,877 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Incyte from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 30th. Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Tuesday, March 18th. Morgan Stanley reduced their price target on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Finally, Citigroup reduced their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.53.

Insider Buying and Selling at Incyte

In other news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This represents a 35.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,475 shares of company stock worth $2,424,751. Corporate insiders own 17.80% of the company’s stock.

Incyte Price Performance

NASDAQ:INCY opened at $63.31 on Friday. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 234.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average is $60.49 and its two-hundred day moving average is $68.43. Incyte Co. has a 12-month low of $53.56 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Research analysts expect that Incyte Co. will post 4.86 EPS for the current year.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.